ACCC probe into petrol prices

The ACCC will undergo an investigation into Australia’s petrol price cycle.

Amid petrol prices hitting a three-year high, the ACCC aims to investigate the price hike after discovering the industry’s profit margins are at an all-time high.

Petrol price cycles will be the main focus of the investigation.

The investigation is scheduled to begin later in the year.

South Australian company MotorMouth has previously urged consumers to utilise the price-check apps made available to them to assist with finding the cheapest price available.

A similar investigation took place in 2009 after the Completion Policy Minister at the time Craig Emerson requested the ACCC investigate concerns that petrol companies were banding together to set a weekly price cycle.